BBSB vs. UUP
BBSB (JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - BBSB is a Government Bonds fund tracking the ICE U.S. Treasury 1-3 Year Bond Index, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. Over the past 3 years, BBSB returned 4.16%/yr vs 5.86%/yr for UUP. At a correlation of -0.45, they often move in opposite directions. BBSB charges 0.04%/yr vs 0.75%/yr for UUP.
Performance
BBSB vs. UUP - Performance Comparison
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Returns By Period
In the year-to-date period, BBSB achieves a 0.56% return, which is significantly lower than UUP's 5.44% return.
BBSB
- 1D
- -0.09%
- 1M
- -0.01%
- 6M
- 0.55%
- YTD
- 0.56%
- 1Y
- 2.98%
- 3Y*
- 4.16%
- 5Y*
- —
- 10Y*
- —
UUP
- 1D
- 0.39%
- 1M
- 1.97%
- 6M
- 4.47%
- YTD
- 5.44%
- 1Y
- 8.28%
- 3Y*
- 5.86%
- 5Y*
- 5.89%
- 10Y*
- 3.17%
BBSB vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BBSB JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF | 0.56% | 5.12% | 4.00% | 2.56% |
UUP Invesco DB US Dollar Index Bullish Fund | 5.44% | -4.99% | 13.50% | 3.74% |
Correlation
The correlation between BBSB and UUP is -0.49, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.46 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2023 | -0.45 |
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Return for Risk
BBSB vs. UUP — Risk / Return Rank
BBSB
UUP
BBSB vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF (BBSB) and Invesco DB US Dollar Index Bullish Fund (UUP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BBSB | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.25 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 2.28 | +1.22 |
| Martin ratioReturn relative to average drawdown | 14.06 | 6.26 | +7.80 |
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Drawdowns
BBSB vs. UUP - Drawdown Comparison
The maximum BBSB drawdown since its inception was -1.57%, smaller than the maximum UUP drawdown of -22.19%. Use the drawdown chart below to compare losses from any high point for BBSB and UUP.
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Drawdown Indicators
| BBSB | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.57% | -22.19% | +20.62% |
Max Drawdown (1Y)Largest decline over 1 year | -0.86% | -3.65% | +2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -0.96% | -10.05% | +9.09% |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.37% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.24% | — |
Current DrawdownCurrent decline from peak | -0.20% | -1.26% | +1.06% |
Average DrawdownAverage peak-to-trough decline | -0.31% | -8.88% | +8.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 1.33% | -1.12% |
Volatility
BBSB vs. UUP - Volatility Comparison
The current volatility for JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF (BBSB) is 0.41%, while Invesco DB US Dollar Index Bullish Fund (UUP) has a volatility of 1.45%. This indicates that BBSB experiences smaller price fluctuations and is considered to be less risky than UUP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBSB | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 1.45% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 0.92% | 4.34% | -3.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.28% | 6.03% | -4.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.66% | 7.22% | -5.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.66% | 6.90% | -5.24% |
BBSB vs. UUP - Expense Ratio Comparison
BBSB has a 0.04% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
BBSB vs. UUP - Dividend Comparison
BBSB's dividend yield for the trailing twelve months is around 3.80%, more than UUP's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BBSB JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF | 3.80% | 3.69% | 4.84% | 3.50% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UUP Invesco DB US Dollar Index Bullish Fund | 3.25% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
Frequently Asked Questions
BBSB and UUP have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UUP has higher volatility (1.45%) compared to BBSB (0.41%). In terms of maximum drawdown, BBSB dropped -1.57% vs UUP's -22.19%.
On 3-year performance, UUP leads with 5.86% vs 4.16% for BBSB. On fees, BBSB is cheaper at 0.04% per year. On volatility, BBSB has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UUP has performed better with a 5.86% return vs 4.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBSB is cheaper with a 0.04% expense ratio, compared with 0.75% for UUP.
BBSB has the higher dividend yield at 3.80%, compared with 3.25% for UUP.
BBSB is categorized as Government Bonds, while UUP is Currency. BBSB tracks ICE U.S. Treasury 1-3 Year Bond Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.04% for BBSB and 0.75% for UUP.
BBSB currently has the higher Sharpe Ratio (2.34 vs 1.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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